Community Health Systems recently inked an 18k SF lease at 5508 Crossings Circle in Antioch, as a preliminary location for employees who will eventually move into a 240k SF new development in the area.
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Southeast Venture principal Tarek El Jammal tells us that so far, employer interest in the Antioch area has been driven primarily by low occupancy cost. "High parking ratios at low rental rates have made the area ideal for high-density office users. Adaptive reuse of existing retail into office uses will continue this trend." Southeast Venture repped Kingdom Realty, the owner of the property, in the Community Health Systems lease.
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Also, Tarek points out, the market is now seeing investment in retail centers from opportunistic buyers, as well as plans for new construction of retail centers that will work to improve an otherwise weak retail market into a viable, attractive one. "That will make future office development opportunities more plausible as the commercial profile of the overall area improves."
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